Joint Ventures in Construction


NASBP's Online Joint Ventures Course: A joint venture (JV) is a partnership between one or more businesses to take on a commercial enterprise. JVs have been used in the construction industry for years but have become increasingly common as projects continue to become larger, more complicated, and more specialized. JVs provide the benefits of collaboration and risk-sharing while allowing construction companies to maintain their corporate independence. While the opportunities presented by JVs are enticing, contractors, bond producers and sureties providing bonds to the joint venture must understand and carefully consider a number of factors before taking the leap into the world of joint ventures.

NASBP would like to thank Michael C. Zisa, a partner in Peckar & Abramson’s Washington, D.C., office for the creation of this course. Mr. Zisa focuses his practice on construction, surety, and government contracts law and litigation and chairs the firm’s surety practice group.


The course costs $75 per person and can be taken at your own pace within 12 months of purchase.
Click to register.

Course objectives

This course covers the essential topics of joint ventures and is intended to serve as a resource for any construction company or surety professional considering involvement with a joint venture. Chapter 1 provides an overview of the reasons for entering into a joint venture and then explains the different types and forms of joint ventures. Chapter 2 discusses the JV agreement and highlights the essential provisions that the parties should consider when preparing the JV agreement. Chapter 3 details special considerations for joint ventures involving small disadvantaged businesses. Chapter 4 looks at bonding of a joint venture from the contractors’ and surety professionals’ perspective.

Upon conclusion of this course, you should be able to:

  • Distinguish between a joint venture and a teaming agreement and determine which is better to use in a given situation;
  • List issues that must be addressed before signing a joint venture agreement;
  • Recognize areas that might become a detriment to a joint venture agreement in the event of a project default;
  • Identify common problems that can arise in a joint venture agreement and determine which solution best addresses each problem.
  • Understand the special circumstances that govern joint ventures that apply for projects under federal set-aside programs.

Who should attend?

This course is intended for bond producers, underwriters and construction companies involved in joint venture agreement projects.

Continuing education

This intermediate-level course has been awarded the following ethics Continuing Education credits in each state:

Alabama — 1

Kentucky — 3

North Dakota — 3

Alaska — 1

Louisiana — 2

Ohio — 3

Arizona — 3

Maine — 3

Oklahoma — 3

Arkansas — 3

Maryland — 3

Oregon — 3

California — 3

Massachusetts — 3

Pennsylvania — 3

Colorado — 3

Michigan — 3

Rhode Island — 3

Connecticut — 3

Minnesota — 3

South Carolina — 3

Delaware — 3

Mississippi — 3

South Dakota — 2

District of Columbia — 3

Missouri — 3

Tennessee — 3

Florida — 2

Montana — 3

Texas — 3

Georgia — 3

Nebraska — 2

Utah — 3

Hawaii — 2

Nevada — 3

Vermont — 3

Idaho — 3

New Hampshire — 3

Virginia — 3

Illinois — 3

New Jersey — 3

Washington — 2

Indiana — 3

New Mexico — 3

West Virginia — 3

Iowa — 3

New York — 3

Wisconsin — 3

Kansas — 3

North Carolina — 3

Wyoming — 3


Content host

This course was created in partnership with WebCE, the leading national supplier of continuing education courses for licensed insurance professionals. Since many states require a closed-book exam, WebCE provides unlimited test re-takes at no additional cost.